Week

The interest rate outlook has gotten appreciably softer over the past couple of weeks.

The broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens by market capitalization, rose 4.5% in the past 24 hours.

“It looks like bitcoin options traders appear to be hedging their bets to the downside ahead of the U.S. election this week,” one observer said, noting pricier puts on the CME.

A tracker for market sentiment reached “extreme greed” levels on Thursday, which has historically preceded market corrections.